China has agreed to make unspecified new purchases of farm products from the Uni...
BEIJING - China has agreed to make unspecified new purchases of farm products from the United States, President Donald Trump said after meeting his Chinese counterpart Xi Jinping in Japan.
While investors await details of the agreement and confirmation from China, analysts and traders say there are limits to how much more China can buy from the country that is typically one of its top suppliers of soybeans, grains and meat.The United States is usually China’s No. 2 supplier of soybeans, a product likely to make the list of new purchases even though an African swine fever epidemic in China has dented demand from Chinese pig farmers.
But sorghum prices are rising, making it less viable for Chinese buyers to import the grain when they already face such a high tariff.
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